Can I retire at age 71 with 597,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $597,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.7%
1 years$49,300$48,861$48,432$48,014$47,606$46,875
2 years$24,406$23,951$23,511$23,084$22,669$21,935
3 years$16,109$15,652$15,213$14,790$14,382$13,667
4 years$11,961$11,506$11,071$10,655$10,258$9,567
5 years$9,473$9,021$8,592$8,184$7,798$7,134
6 years$7,815$7,366$6,943$6,545$6,170$5,533
7 years$6,631$6,186$5,770$5,381$5,018$4,409
8 years$5,744$5,303$4,893$4,514$4,163$3,581
9 years$5,054$4,617$4,215$3,845$3,506$2,952
10 years$4,502$4,070$3,674$3,314$2,987$2,460
11 years$4,051$3,623$3,235$2,885$2,569$2,068
12 years$3,676$3,252$2,871$2,530$2,226$1,751
13 years$3,358$2,939$2,565$2,234$1,941$1,491
14 years$3,086$2,671$2,305$1,983$1,702$1,276
15 years$2,851$2,440$2,081$1,768$1,498$1,096
16 years$2,645$2,239$1,887$1,583$1,324$944
17 years$2,463$2,062$1,717$1,423$1,174$816
18 years$2,302$1,905$1,567$1,282$1,044$707
19 years$2,158$1,766$1,435$1,158$931$614
20 years$2,029$1,641$1,317$1,049$831$533
21 years$1,912$1,528$1,211$952$744$465
22 years$1,806$1,427$1,116$866$667$405
23 years$1,709$1,334$1,031$788$598$354
24 years$1,621$1,250$953$719$538$309
25 years$1,539$1,173$883$657$484$270
26 years$1,464$1,103$819$601$436$236
27 years$1,395$1,038$760$550$393$207
28 years$1,331$978$707$504$355$181
29 years$1,271$922$658$462$320$159
30 years$1,215$871$613$424$289$139
31 years$1,163$824$571$389$262$122
32 years$1,115$779$533$358$237$107
33 years$1,069$738$498$329$214$94
34 years$1,026$699$465$303$194$83
35 years$986$663$435$279$176$73
36 years$948$630$407$257$159$64
37 years$912$598$381$236$144$56
38 years$879$568$356$218$131$49
39 years$847$540$334$201$119$43
40 years$816$514$313$185$108$38
41 years$787$489$293$171$98$33
42 years$760$466$275$158$89$29
43 years$734$444$258$146$80$26
44 years$709$423$242$135$73$23
45 years$686$404$228$124$66$20
46 years$663$385$214$115$60$18
47 years$642$368$201$106$55$15
48 years$621$351$189$98$50$14
49 years$602$335$177$91$45$12
50 years$583$320$167$84$41$10

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 71 starting with $597,000, adding $5,338 every year, while hoping to spend $44,681 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 40/46/14 Blend
70$597,000$597,000$597,000$597,000
71$663,400$631,759$622,506$686,972
72$683,527$615,175$595,819$687,588
73$704,209$596,281$566,742$683,482
74$725,456$574,916$535,145$678,072
75$747,276$550,911$500,897$671,260
76$769,679$524,087$463,857$662,944
77$792,672$494,252$423,882$653,014
78$816,261$461,207$380,818$641,355
79$840,452$424,739$334,509$627,843
80$865,251$384,624$284,787$612,350
81$890,659$340,623$231,480$594,735
82$916,680$292,487$174,408$574,855
83$943,312$239,950$113,382$552,552
84$970,555$182,733$48,206$527,664
85$998,404$120,539$0$500,016
86$1,026,852$53,057$0$472,612
87$1,055,891$0$0$449,961
88$1,085,506$0$0$434,826
89$1,115,683$0$0$446,752
90$1,146,401$0$0$458,874
91$1,177,634$0$0$471,178
92$1,209,354$0$0$483,651
93$1,241,525$0$0$496,275
94$1,274,105$0$0$509,030
95$1,307,045$0$0$521,893
96$1,340,290$0$0$534,838
97$1,373,772$0$0$547,835
98$1,407,419$0$0$560,848
99$1,441,143$0$0$573,838
100$1,474,848$0$0$586,760